Miami-Burger King, the world's second-largest burger chain, ordered up a new chief executive, but said hold the IPO, at least for now. British drinks group Diageo PLC, which owns Miami-based Burger King, said it hired John Dasburg, president and CEO of Northwest Airlines, to head the fast-food chain and oversee its initial public offering.
However, Diageo CEO Paul Walsh said the group was not committed to a fixed timetable. "Currently, the financial markets are not really conducive to an IPO," Walsh said. "The appointment is the first step to separate Burger King from Diageo." Any float of the first 20 percent of Burger King would be more likely to take place next year. -Reuters